H.C. Wainwright Reiterates Buy Rating on Jasper Therapeutics (JSPR)

H.C. Wainwright analyst Emily Bodnar reiterated a Buy rating and $65.00 price target on Jasper Therapeutics (NASDAQ: JSPR).

The analyst commented: "Jasper presented six-week data from the SPOTLIGHT study evaluating briquilimab for treatment of chronic inducible urticaria (CIndU) on October 14. The data focused on 15 patients with cold urticaria (ColdU) or symptomatic dermagraphism (SD) treated with a single subcutaneous dose of 40 mg (n=3) or 120 mg (n=12). Patients enrolled were slightly more severe than patients in Celldex's (CLDX; Buy; Pantginis) barzolvolimab Phase 1 study. For example, baseline threshold TempTest scores for ColdU were 20.8 and baseline threshold FricTest scores were 3.9 for SD for the 120 mg dose compared to 18.9 and 3.5 in the barzovolimab Phase 1 study, respectively. The mean tryptase level at baseline in the SPOTLIGHT study was 7.6 ng/ml compared to a median of 4.2 ng/ml in the barzolvolimab Phase 1 study. The results indicated that in the 40 mg cohort, 1 patient had a CR (33%) and 2 patients had a PR (66%) for an overall response of 100%, and in the 120 mg cohort, 10 patients had a CR (83%) and 1 patient had a PR (8%) for an overall response of 92%. This indicated a dose response in efficacy from the 40 mg to 120 mg dose. One of the key topics of the Q&A was serum tryptase levels, a known marker for mast cell activation, which indicated a peak decline of ~66% by Day 7 for the 120 mg dose, after which tryptase slowly increased through Day 45 (6 weeks), though not above baseline levels. The company noted that 6 CRs and 1 PR were ongoing at Day 43 (60% CR durability at 6 weeks). Reiterate Buy rating and $65 PT."

For an analyst ratings summary and ratings history on Jasper Therapeutics click here. For more ratings news on Jasper Therapeutics click here.

Shares of Jasper Therapeutics closed at $16.58 yesterday.

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